Multi Day Order

Hi,

I am new to stock market and using Zerodha.

Can i place a CNC order (for delivery), either buy or sell which will not cancel at end of the day , should be valid till execution. My understanding is that order not executed by end of the day will be cancelled and we have to place fresh orders next day.

My intention is not to track all the stocks everyday and keep orders there for long time. For example if I buy a stock at Rs 100 and want to sell at 130 and SL at 80 then i’ll place 2 orders which will be active for days /weeks/months until execution.

Regards
Siddharth

No there’s only two options IOC - IMMEDIATE OR CANCEL. and DAY- order valid for the day.

Good till Cancel (GTC) is an order that stays in your system, until the day the order is completely filled, you cancel the order.GTC order is presently you cannot be placed for equity in Zerodha.

Indian exchanges do not support GTC orders. The broker offer this Indian market simply cancel the old order in the end of the day and place an order again for you next day when the market opens.

Any plans to add this functionality? GTT orders in zerodha don’t always get executed for me.

Hi @Kiyoto_Kai, GTT already serves this purpose. Since GTT uses limit order, once it is triggered, the limit order will only execute at the price you have specified or a better price.

If the price moves higher than the limit price for buy order and lower for a sell order, it will remain pending. For better execution, you can keep some difference between trigger and limit price.

Right but what will happen if the order is not fulfilled that day? Will the GTT also fire the next day?

The example I am looking at is:

BUY ORDER
GTT Trigger: 100rs.
Limit Price: 102rs.

Share at the end of the day closes at high price of 101rs.

How to make it so that the GTT also fires tomorrow or keeps firing until my order is filled?

I intend to use this on a few instruments with low liquidity.

Once triggered, the GTT order will become inactive, it won’t trigger again the ext day.

In this scenario, the order will be filled as CMP is lower than your limit buy price of Rs. 102. A buy limit order will execute at the price specified (102) or a lower price. If it goes above 102, it will remain pending and get cancelled if not filled by market close.

Sorry my bad. I think I have mixed my numbers up a bit here.

BUY ORDER
GTT Trigger: 100rs.
Limit Price: 99rs.

and assume the order was not fulfilled because the price never touched 99 but it fell below 100.

So a buy limit order at 99 will execute at 99 or below, if the price doesn’t touch 99, it will remain pending and get cancelled after market close. To avoid this, you can keep the trigger price at 100, and buy limit price at 100.5.

When the trigger is hit, the order will be placed at 100.5, as this is higher than CMP, it will execute at the best available price in the market but not higher than 100.5.